Insurance News Archive

Faster Eurostar 'will impact second home market in France'

The increased ease with which people can move between Paris and London is certain to make changes to the way people invest in overseas property, according to one expert.

Since the opening of the St Pancras station earlier this month, 20 minutes have been shaved off the train journey from London to Paris, while the train also departs from a more accessible station

As a result, more people will be looking at buying second homes in the French capital and the rest of the country as well, according to Roman Carel, the business development manager of Pierre and Vacances, a property development and tourism organisation.

With the Eurostar reporting a record 2.23 travellers using its services in the third quarter Mr Carel said: "I think trains are one of the big chapters in our society today."

He added: "Two hours in a train, being able to work [in London or Paris] … it's going to possibly increase commuting between the two cities, and definitely impact the investment decision of a certain category of people."

People who take advantage of the train and invest in a second home in France will benefit from "the charm of Paris and the business efficiency of London," he concluded.

23 Nov 2007